The cryptocurrency market has continued its wonderful begin to the week, with most cash buying and selling within the inexperienced zone.
The cryptocurrency market is ready to file positive aspects for the second consecutive day this week. The continued optimistic efficiency has seen the market add greater than 2.5% to its worth during the last 24 hours.
At press time, the whole cryptocurrency market has crossed the $1.3 trillion mark as soon as once more. Bitcoin has topped the $31k resistance degree and will surge larger over the approaching hours if the market momentum is maintained.
Ether, the second-largest cryptocurrency by market cap, is closing in on the $2k mark after including greater than 3% to its worth within the final 24 hours.
Nevertheless, WAVES, the native token of the Waves blockchain, is one of the best performer amongst the highest 100 cryptocurrencies at this time. WAVES is up by greater than 44% during the last 24 hours, outperforming the opposite main cryptocurrencies.
WAVES has been performing effectively for the reason that improvement staff launched its revival plan just a few days in the past. The revival plan consists of the choice to utterly restore the dollar-peg of USDN stablecoin over the subsequent eight weeks.
Key ranges to observe
The WAVES/USDT 4-hour chart may be very bullish in the intervening time, due to the cryptocurrency’s optimistic efficiency. In the meanwhile, the technical indicators present that WAVES might rally larger if the market momentum is maintained.
The MACD line crossed into the optimistic territory just a few days in the past, indicating bullish momentum. The 14-day relative energy index of 73 reveals that WAVES might quickly enter the overbought area.
At press time, WAVES is buying and selling at $8.39 per coin. If the rally continues, WAVES might surge previous the primary resistance degree at $11.22 earlier than the tip of the day.
Within the occasion of prolonged bullish efficiency, WAVES might transfer previous the $15 mark for the second time this month.